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Skeptical Debunker

Obama, Republicans clash at heated health summit - Yahoo! News - 0 views

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    "We have a very difficult gap to bridge here," said Rep. Eric Cantor, the No. 2 House Republican. "We just can't afford this. That's the ultimate problem." With Cantor sitting in front of a giant stack of nearly 2,400 pages representing the Democrats' Senate-passed bill, Obama said cost is a legitimate question, but he took Cantor and other Republicans to task for using political shorthand and props "that prevent us from having a conversation." And so it went, hour after hour at Blair House, just across Pennsylvania Avenue from the White House - a marathon policy debate available from start to finish to a divided public. The more than six-hour back-and-forth was essentially a condensed, one-day version of the entire past year of debate over the nation's health care crisis, with all its heat, complexity and detail, and a crash course in the partisan divide, in which Democrats seek the kind of broad remake that has eluded leaders for half a century and Republicans favor much more modest changes. With Democrats in control of the White House and Congress, they were left with the critical decision about where to go next. Obama and his Democratic allies argued at Thursday's meeting that a broad overhaul is imperative for the nation's future economic vitality. The president cast health care as "one of the biggest drags on our economy," tying his top domestic priority to an issue that's even more pressing to many Americans.
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    Of course the "we" in "We can't afford this" is the big health care monopolies (pharma, insurance, etc.). Supposedly, the country and people can afford the continued gouging by those special interests (up to 40% in some places this year alone!). Too, if the government were to find a way to "afford it" (disregarding that Medicare and Medicaid savings might pay for it altogether!), that would probably be on the "back" of the richest 5% and by reducing corporate and business subsidies (like those to oil companies, the military industrial complex, "big finance" bailouts and sweetheart Federal funds rates and "liquidity" pumping, non-risk underwriting for things like coastal flood insurance, etc., etc., etc.). Since that is the "invisible hand" that feeds most "conservatives" and Republican politicians, that would never do.
thinkahol *

Evil Corporate Tax Holiday Gains Bipartisan Support | Rolling Stone Politics | Taibblog... - 0 views

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    The madness that is the proposed tax repatriation holiday is continuing and gathering steam. More and more members of congress are coming out of the woodwork, scratching their chins in contemplative consideration as it were, pretending that they've just realized what a great day a corporate tax holiday would be - not that they've taken gazillions of dollars from the firms lobbying for it or anything. The latest convert seems to be Nevada Democrat Shelley Berkley. Berkley's plan is to offer a pseudo-holiday - not the full-fledged happy-ending massage the companies wanted (i.e. a reduction from 35 percent+ to 5.25 percent) but a mere ten-point shave: Representative Shelley Berkley, a Nevada Democrat, is the latest lawmaker to consider legislation allowing multinational companies to send offshore profits to the U.S. at a reduced tax rate. Her proposal, which was confirmed yesterday by Berkley's communications director, David Cherry, would allow companies to return profits to the U.S. at a 25 percent tax rate, 10 percentage points below the maximum statutory rate. Most companies publicly supporting a holiday, such as Duke Energy Corp., have spoken favorably of the 5.25 percent rate that is being offered by Representative Kevin Brady, a Texas Republican. One thing that people must understand about this tax repatriation business is that it's a wholly bipartisan affair. It's not solely the work of evil Republicans. This is a scheme that requires heavies in both parties to help ram the knotty, hard-to-sell legislation through. On the Democratic side, unsurprisingly, the main actor is going to be Chuck Schumer. John Kerry is also involved with this nastiness. Barbara Boxer led the 2004 effort and the failed 2009 campaign to get a holiday, and is rumored to be lurking somewhere in this business. Note that Cisco, a California corporate heavyweight and one of the companies lobbying most ravenously for this tax holiday, has been a consistent lifelong contributor
Konstantinos

Democracy versus Republic? - 0 views

We live in a republic (a group of states that are self governing under the umbrella of a centralized or federal government). The type of system we employ is a representative form of democracy (mean...

democracy republic distinction

started by Konstantinos on 30 Jul 12 no follow-up yet
thinkahol *

Economic Scene; If taxes were lower, the economy would grow faster, right? Economists s... - 0 views

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    AS Election Day approaches, serious discussion about economic policies is hamstrung by the devotion of both parties to reducing taxes. The big reason, of course, is that President Bush emphasizes tax cuts, including elimination of the estate tax, to the exclusion of almost everything else. The Democrats, in turn, hesitate to propose an economic plan that does not include long-term reductions for middle-income workers, and most refuse to talk about rescinding the Bush tax cuts for the wealthy. But the degree of misleading information emanating from both Washington and the media about how taxes affect the economy is disturbing. As I listen to the radio, watch TV news and read a variety of newspapers, it seems that quite a few Americans, including economics writers and media hosts, think that low-tax countries unquestionably grow faster than high-tax economies. Right and left, they seem to attribute more rapid growth in America to lower taxes. What may surprise them is that there is no evidence for that. ''You can make a theoretical case that high taxes impede economic growth, but it is just not supported by the evidence in the U.S. or across countries,'' said William Easterly, a former World Bank economist soon to join the faculty of New York University.
Skeptical Debunker

Op-Ed Columnist - Senator Bunning's Universe - NYTimes.com - 0 views

  • During the debate over unemployment benefits, Senator Jeff Merkley, a Democrat of Oregon, made a plea for action on behalf of those in need. In response, Mr. Bunning blurted out an expletive. That was undignified — but not that different, in substance, from the position of leading Republicans.Consider, in particular, the position that Mr. Kyl has taken on a proposed bill that would extend unemployment benefits and health insurance subsidies for the jobless for the rest of the year. Republicans will block that bill, said Mr. Kyl, unless they get a “path forward fairly soon” on the estate tax. Now, the House has already passed a bill that, by exempting the assets of couples up to $7 million, would leave 99.75 percent of estates tax-free. But that doesn’t seem to be enough for Mr. Kyl; he’s willing to hold up desperately needed aid to the unemployed on behalf of the remaining 0.25 percent. That’s a very clear statement of priorities.So, as I said, the parties now live in different universes, both intellectually and morally. We can ask how that happened; there, too, the parties live in different worlds. Republicans would say that it’s because Democrats have moved sharply left: a Republican National Committee fund-raising plan acquired by Politico suggests motivating donors by promising to “save the country from trending toward socialism.” I’d say that it’s because Republicans have moved hard to the right, furiously rejecting ideas they used to support. Indeed, the Obama health care plan strongly resembles past G.O.P. plans. But again, I don’t live in their universe. More important, however, what are the implications of this total divergence in views?The answer, of course, is that bipartisanship is now a foolish dream. How can the parties agree on policy when they have utterly different visions of how the economy works, when one party feels for the unemployed, while the other weeps over affluent victims of the “death tax”?Which brings us to the central political issue right now: health care reform. If Congress enacts reform in the next few weeks — and the odds are growing that it will — it will do so without any Republican votes. Some people will decry this, insisting that President Obama should have tried harder to gain bipartisan support. But that isn’t going to happen, on health care or anything else, for years to come.Someday, somehow, we as a nation will once again find ourselves living on the same planet. But for now, we aren’t. And that’s just the way it is.
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    So the Bunning blockade is over. For days, Senator Jim Bunning of Kentucky exploited Senate rules to block a one-month extension of unemployment benefits. In the end, he gave in, although not soon enough to prevent an interruption of payments to around 100,000 workers.But while the blockade is over, its lessons remain. Some of those lessons involve the spectacular dysfunctionality of the Senate. What I want to focus on right now, however, is the incredible gap that has opened up between the parties. Today, Democrats and Republicans live in different universes, both intellectually and morally.
thinkahol *

GMF - The Copenhagen Consensus: Reading Adam Smith in Denmark - 0 views

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    Adam Smith observed in 1776 that economies work best when governments keep their clumsy thumbs off the free market's "invisible hand." Two generations later, in 1817, the British economist David Ricardo extended Smith's insights to global trade. Just as market forces lead to the right price and quantity of products domestically, Ricardo argued, free foreign trade optimizes economic outcomes internationally. Reading Adam Smith in Copenhagen -- the center of the small, open, and highly successful Danish economy -- is a kind of out-of-body experience. On the one hand, the Danes are passionate free traders. They score well in the ratings constructed by pro-market organizations. The World Economic Forum's Global Competitiveness Index ranks Denmark third, just behind the United States and Switzerland. Denmark's financial markets are clean and transparent, its barriers to imports minimal, its labor markets the most flexible in Europe, its multinational corporations dynamic and largely unmolested by industrial policies, and its unemployment rate of 2.8 percent the second lowest in the OECD (the Organization for Economic Cooperation and Development). On the other hand, Denmark spends about 50 percent of its GDP on public outlays and has the world's second-highest tax rate, after Sweden; strong trade unions; and one of the world's most equal income distributions. For the half of GDP that they pay in taxes, the Danes get not just universal health insurance but also generous child-care and family-leave arrangements, unemployment compensation that typically covers around 95 percent of lost wages, free higher education, secure pensions in old age, and the world's most creative system of worker retraining. Does Denmark have some secret formula that combines the best of Adam Smith with the best of the welfare state? Is there something culturally unique about the open-minded Danes? Can a model like the Danish one survive as a social democratic island in a turbulent sea of globali
thinkahol *

Robert Scheer: Obama's Fatal Addiction - Robert Scheer's Columns - Truthdig - 0 views

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    If it had been revealed that Jeffrey Immelt once hired an undocumented nanny, or defaulted on his mortgage, he would be forced to resign as head of President Barack Obama's "Council on Jobs and Competitiveness." But the fact that General Electric, where Immelt is CEO, didn't pay taxes on its $14.5 billion profit last year-and indeed is asking for a $3.2 billion tax rebate-has not produced a word of criticism from the president, who in January praised Immelt as a business leader who "understands what it takes for America to compete in the global economy." What it takes, evidently, is shifting profit and jobs abroad: As of last year only 134,000 of GE's total workforce of 304,000 was based in the U.S. and, according to The New York Times, for the past three years 82 percent of the company's profit was sheltered abroad. Thanks to changes in the tax law engineered when another avowedly pro-business Democrat, Bill Clinton, was president, U.S. multinational financial companies can avoid taxes on their international scams. And financial scams are what GE excelled in for decades, when GE Capital, its financial unit, which specialized in credit card, consumer loan and housing mortgage debt, accounted for most of GE's profits. That's right, GE, along with General Motors with its toxic GMAC financial unit, came to look more like an investment bank than a traditional industrial manufacturing giant that once propelled this economy and ultimately it ran into the same sort of difficulties as the Wall Street hustlers. As The New York Times' David Kocieniewski, who broke the GE profit story, put it: "Because its lending division, GE Capital, has provided more than half of the company's profit in some recent years, many Wall Street analysts view G.E. not as a manufacturer but as an unregulated lender that also makes dishwashers and M.R.I. machines." Maximizing corporate profits at the taxpayer's expense is what top CEOs are good at, and after all it
thinkahol *

Hello Washington? - 0 views

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    'Because the White House and congressional Democrats don't dare admit how bad the economy continues to be for so many people. They're holding their breath, hoping the recovery catches fire next year before Election Day. Republicans don't dare admit how bad the economy is because they don't want to i
Joe La Fleur

Here we go: Reid calls for Senate to revamp filibuster « Hot Air - 0 views

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    Senate democrats have been holding everything up including job creation and the economy!
thinkahol *

Debt Ceiling Deal: The Democrats Take a Dive | Rolling Stone Politics | Taibblog | Matt... - 0 views

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    So the debt deal has finally been reached. As expected, the agreement arrives in a form that right-thinking people everywhere can feel terrible about with great confidence.
Bakari Chavanu

Capitalism's Self-inflicted Apocalypse - 0 views

  •  The present economic crisis, however, has convinced even some prominent free-marketeers that something is gravely amiss. Truth be told, capitalism has yet to come to terms with several historical forces that cause it endless trouble: democracy, prosperity, and capitalism itself, the very entities that capitalist rulers claim to be fostering.
  • Some eighty  years ago Supreme Court Justice Louis Brandeis commented, “We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can’t have both.” Moneyed interests have been opponents not proponents of democracy.
  • In the early days of the Republic the rich and well-born imposed property qualifications for voting and officeholding. They opposed the direct election of candidates (note, their Electoral College is still with us). And for decades they resisted extending the franchise to less favored groups such as propertyless working men, immigrants, racial minorities, and women.
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  • The conservative plutocracy also seeks to rollback democracy’s social gains, such as public education, affordable housing, health care, collective bargaining, a living wage, safe work conditions, a non-toxic sustainable environment; the right to privacy, the separation of church and state, freedom from compulsory pregnancy, and the right to marry any consenting adult of one’s own choosing.
  • About a century ago, US labor leader Eugene Victor Debs was thrown into jail during a strike. Sitting in his cell he could not escape the conclusion that in disputes between two private interests, capital and labor, the state was not a neutral arbiter. The force of the state--with its police, militia, courts, and laws—was unequivocally on the side of the company bosses.
  • Any nation that is not “investor friendly,” that attempts to use its land, labor, capital, natural resources, and markets in a self-developing manner, outside  the dominion of transnational corporate hegemony, runs the risk of being demonized and targeted as “a threat to U.S. national security.”
  • Most of the world is capitalist, and most of the world is neither prosperous nor particularly democratic. One need only think of capitalist Nigeria, capitalist Indonesia, capitalist Thailand, capitalist Haiti, capitalist Colombia, capitalist Pakistan, capitalist South Africa, capitalist Latvia, and various other members of the Free World--more accurately, the Free Market World.
  • Corporate investors prefer poor populations. The poorer you are, the harder you will work—for less. The poorer you are, the less equipped you are to defend yourself against the abuses of wealth.
  • In the corporate world of “free-trade,” the number of billionaires is increasing faster than ever while the number of people living in poverty is growing at a faster rate than the world’s population. Poverty spreads as wealth accumulates.
  • To the extent that life is bearable under the present U.S. economic order, it is because millions of people have waged bitter class struggles to advance their living standards and their rights as citizens, bringing  some measure of humanity to an otherwise heartless politico-economic order.
  • There is a third function of the capitalist state seldom mentioned. It consists of preventing the capitalist system from devouring itself.  Consider the core contradiction Karl Marx pointed to: the tendency toward overproduction and market crisis. An economy dedicated to speedups and wage cuts, to making workers produce more and more for less and less, is always in danger of a crash. To maximize profits, wages must be kept down. But someone has to buy the goods and services being produced. For that, wages must be kept up. There is a chronic tendency—as we are seeing today—toward overproduction of private sector goods and services and underconsumption of necessities by the working populace. 
  • Instead of trying to make money by the arduous task of producing and marketing goods and services, the marauders tap directly into the money streams of the economy itself. During the 1990s we witnessed the collapse of an entire economy in Argentina when unchecked free marketeers stripped enterprises, pocketed vast sums, and left the country’s productive capacity in shambles. The Argentine state, gorged on a heavy diet of free-market ideology, faltered in its function of saving capitalism from the capitalists.
  • These thieves were caught and convicted. Does that not show capitalism’s self-correcting capacity? Not really. The prosecution of such malfeasance— in any case coming too late—was a product of democracy’s accountability and transparency, not capitalism’s. Of itself the free market is an amoral system, with no strictures save caveat emptor.
  • Perhaps the premiere brigand was Bernard Madoff. Described as “a longstanding leader in the financial services industry,” Madoff ran a fraudulent fund that raked in $50 billion from wealthy investors, paying them back “with money that wasn’t there,” as he himself put it. The plutocracy devours its own children.
  • The classic laissez-faire theory is even more preposterous than Greenspan made it.  In fact, the theory claims that everyone should pursue their own selfish interests without restraint.
  • Capitalism breeds the venal perpetrators, and rewards the most unscrupulous among them.  The crimes and crises are not irrational departures from a rational system, but the converse: they are the rational outcomes of a basically irrational and amoral system.
  • Worse still, the ensuing multi-billion dollar government bailouts are themselves being turned into an opportunity for pillage. Not only does the state fail to regulate, it becomes itself a source of plunder, pulling vast sums from the federal money machine, leaving the taxpayers to bleed.
  • But the 2008-09 “rescue operation” offered a record feed at the public trough. More than $350 billion was dished out by a right-wing lame-duck Secretary of the Treasury to the biggest banks and financial houses without oversight--not to mention the more than $4 trillion that has come from the Federal Reserve.  Most of the banks, including JPMorgan Chase and Bank of New York Mellon, stated that they had no intention of letting anyone know where the money was going.
  • In sum, free-market corporate capitalism is by its nature a disaster waiting to happen.
  • If the paladins of Corporate America want to know what really threatens “our way of life,” it is their way of life, their boundless way of pilfering their own system, destroying the very foundation on which they stand, the very community on which they so lavishly feed.
Joe La Fleur

The Senate's first order of business: Polar bear carcasses « Hot Air - 0 views

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    DEMOCRAT CONTROLLED SENATE SAYS DAM THE ECONOMY AND DEAD AMERICANS IN BENGHAZI
thinkahol *

Hedges Laments The 'Death Of The Liberal Class' : NPR - 0 views

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    Liberals have conceded the good fights -- organizing workers, preventing war, a greener economy -- to corporations and the ruling powers for decades, argues Chris Hedges. In his book, Death of the Liberal Class, Hedges slams groups and institutions from academia, to the church, to the Democratic par
thinkahol *

Road to Corporate Serfdom | CommonDreams.org - 0 views

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    It was Bill Clinton's campaign strategist, James Carville, who in 1992 created the election slogan: "It's the Economy, Stupid." For the 2010 Congressional campaigns, the slogan should have been: "It's Corporate Crime and Control, Stupid." But notwithstanding the latest corporate crime wave, the devastating fallout on workers, investors and taxpayers from the greed and corruption of Wall Street, and the abandonment of American workers by U.S. corporations in favor of repressive regimes abroad, the Democrats have failed to focus voter anger on the corporate supremacists. 
thinkahol *

Robert Reich (The Big Lie) - 0 views

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    Republicans are telling Americans a Big Lie, and Obama and the Democrats are letting them. The Big Lie is our economic problems are due to a government that's too large, and therefore the solution is to shrink it. The truth is our economic problems stem from the biggest concentration of income and wealth at the top since 1928, combined with stagnant incomes for most of the rest of us. The result: Americans no longer have the purchasing power to keep the economy going at full capacity. Since the debt bubble burst, most Americans have had to reduce their spending; they need to repay their debts, can't borrow as before, and must save for retirement.
thinkahol *

Natural Resonance Revolution: Irrationality is ruling the day: Robert Weissman - 0 views

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    Washington is in the grip of a fever. It's hard to find a word other than lunacy to describe what's going on. We are veering toward potential economic catastrophe. And Congress is hung up on a debate that shouldn't be occurring. It is debating an imaginary problem that conjures scary future scenarios but ignores dire existing circumstances. The consensus proffered solution to the imaginary problem would damage our country and further weaken our economy. Democrats and Republicans are at loggerheads, but they are disagreeing primarily about how much harm they want to impose. That's a very consequential disagreement, but it ignores the fact that we don't need to impose any harm at all.
thinkahol *

Robert Scheer: One Betrayal Too Many - Robert Scheer's Columns - Truthdig - 0 views

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    It's getting too late to give President Barack Obama a pass on the economy. Sure, he inherited an enormous mess from George W., who whistled "Dixie" while the banking system imploded. But it's time for Democrats to admit that their guy bears considerable responsibility for not turning things around. 
Michael Haltman

Number 9, number 9, number 9, number 9, number 9 - 0 views

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    President Obama is off on his trip to the Far East, ready to come home to deal with the many items piling up on his plate: healthcare, the economy, Thanksgiving, Democrat fundraising, the environment, early Christmas shopping, you name it. Busy, busy schedule. Somewhere in all of that he will fit in his ninth meeting with his war council on the troop decision in Afghanistan. To date he has spent a good 20-30 hours with them. That 20-30 hours has been spread over many months (close to 11 in office to date), leading one to believe that this decision is not his number one priority...
Joe La Fleur

Gov. Jerry Brown Asks California Voters to Support Tax Hike - 0 views

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    THIS IS WHY THEY'RE CALLED TAX AND SPEND DEMOCRATS
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